The 58th IHGF Delhi Fair generated business enquiries worth Rs 3,500 crore. Buyers from 108 countries and over 3,000 exhibitors were involved. Notable buyers included representatives from major companies like Home Depot and TJX. The fair featured a variety of products such as home décor, furnishings, and handcrafted accessories.
All time high business enquiries worth Rs 3,500 cr at flagship handicraft fair
India’s manufacturing sector growth has not benefited much from the US-China trade war. Other Asian countries like Vietnam, Taiwan, and South Korea have gained more. India’s share in US imports increased slightly, but it continues to import many components from China. India’s export strengths lie in sectors with limited growth potential.
India managed to import only 577 tonnes of Hilsa from Bangladesh despite an order for 2,420 tonnes due to a late import permit. The delay, caused by the seasonal decline in Hilsa availability, led to minimal price reductions. Bangladeshi officials aim to discuss lifting the 2012 export ban in November.
Indian buyers are confident that Canadian lentil and potash supplies will remain consistent, despite the diplomatic tensions between New Delhi and Ottawa. Orders for upcoming shipments are on track, and trade officials have not reported any disruptions. Canada is a key supplier of these essential commodities, which are crucial for India’s agriculture and food sectors.
India is exploring the import of Mongolian coking coal via Russia to reduce reliance on China, following disruptions in Australian supplies. The Mongolian coal is $50 cheaper per metric ton and offers superior quality. Indian consumption of coking coal heavily relies on imports, primarily from Australia, Russia, and the US.
The commerce and industry ministry is set to seek Cabinet approval for a new standard operating procedure for negotiating FTAs, addressing issues like labour and the environment. The SOPs aim to prevent misuse of origin rules and focus on reciprocity and sustainability.
In the first six months of the current fiscal year, India’s automobile exports increased by 14 per cent year-on-year. This growth was driven by higher shipments of passenger vehicles and two-wheelers. Key markets like Latin America and Africa have contributed to the rebound. Passenger vehicle exports rose 12 per cent, while two-wheeler exports increased 16 […]
India seeks critical mineral agreement with US, hopes for a trade pact, Piyush Goyal says
1 year ago
India’s trade minister, Piyush Goyal, announced that the country is seeking a critical mineral partnership agreement with the United States, hoping it could lead to a broader Free Trade Agreement (FTA). This follows an initial pact signed earlier this month to enhance cooperation on lithium, cobalt, and other critical minerals essential for electric vehicles and […]
Union Minister of Commerce and Industry Piyush Goyal stated that the H1B visa issue is “a thing of the past” and will no longer be a focus in international discussions, shifting attention to other economic and strategic partnerships. During his recent visit to the U.S., Goyal met with major CEOs in New York to promote […]
Kemi Badenoch, former UK business secretary and contender for Conservative Party leader, claims she blocked India-UK FTA due to visa demands. However, ex-ministers and sources dispute her narrative, asserting she sought a deal despite immigration concerns. Talks may resume under Labour government.